Introduction to Baosteel Group
Baosteel Group is a China-based steel producing enterprise with international presence. The group primarily specializes in producing high quality steel products such as hot and cold rolled steel sheets and plates, hot-dip galvanized steel sheets, and tin plates. The company’s operations span across domestic and international markets and include steel research, development and manufacturing, products sales, financial services, business technologies, and foreign trade. Founded in 1978, Baosteel Group ranks third in the global steel industry and produces over twelve million metric tons of steel annually.
History
Baosteel Group was established in 1978 when the Chinese government decided to restructure and reinvigorate the steel producing industry in China. At the time, a reputed team of leading steel industry experts, headed by the famous metallurgist and economist Mr. Wu Jincheng, was set up to develop Baosteel Group. By the end of the decade, the group was well on its way to becoming one of the most eminent steel production entities in the world.
In the early 1990s, the company saw a rapid growth in its international presence, as it started receiving orders for steel products from Asian, European and American markets. In 2000, Baosteel Group further consolidated its position in the international market with the formation of the Wuhan Iron & Steel Co. Ltd. (WISCO Group), a joint venture between Baosteel Group and the Chinese government. In 2003, Baosteel Group listed its shares on the Shanghai and Hong Kong Stock Exchange.
Today, Baosteel Group is one of the largest and most advanced steel producers in the world. By leveraging its deep expertise, cutting-edge technologies and strong partnerships with global companies and organizations, the group presently enjoys a leading market presence in China and has established a strong presence in the global steel production industry.
Core Businesses
Baosteel Group is one of the leading steel production entities in the world, with four major steel production bases and a highly developed network of steel products sales and manufacturing operations. The four major steel production bases are Baosteel Co. Ltd., Wuhan Iron & Steel Co. Ltd. (WISCO Group), Fujian Shengang Steel Co. Ltd., and Jinshan Steel Co. Ltd. The production bases specialize in producing a wide range of superior quality steel products, including hot and cold rolled steel sheets and plates, hot-dip galvanized steel sheets, and tin plates.
The group also runs a steel engineering research and development center, a standardized quality control center, and a technology transfer center. Furthermore, the company has strategic partnerships with numerous foreign companies, such as Peabody Energy in the US, and Lebedinsky GOK in Russia, etc. Baosteel Group also offers comprehensive business services, such as financial services, research and development services, equipment manufacturing and material trading services.
Conclusion
Baosteel Group is one of the most prominent steel production entities in the world. From its humble beginnings in the late 1970s, the company has achieved rapid growth, both in the domestic and international steel markets. Leveraging its technological expertise and strong partnerships, the group is capable of producing steel products of superior quality and at competitive prices. From steel research, development, and manufacturing to products sales, Baosteel Group offers its customers a variety of services, ensuring that their steel requirements are met.
